PM fires up as Labor confirms tax stance

Malcolm Turnbull has accused Labor of wanting to keep workers in their place after the opposition committed to rejecting a large part of his government's personal income tax package.

During a rowdy parliamentary question time, the prime minister launched into a tirade against the opposition saying Labor wanted to end "enterprise and aspiration".

"Australians should be entitled to aspire to get ahead, to get a better job, to invest in their business, to make some real economic progress in their lives," Mr Turnbull told MPs.

Shadow treasurer Chris Bowen is in talks with the government over its tax plan. Picture: AAP (AAP)

"It is what Labor used to stand for, but no more. This privileged elite opposite, they want to keep the workers in their place."

Ahead of a Senate debate this week, the Labor caucus at a meeting on Tuesday unanimously agreed to only back the tax reductions that start on July 1 in the government's seven-year, multi-stage tax package.

This comprises a new low-and middle-income tax offset worth up to $530 for individuals and an increase in the top threshold of the 32.5 per cent tax bracket from $87,000 to $90,000.

The opposition doesn't support further reductions due in 2022 and 2024.